1. (a) In this subtitle the following words have the meanings indicated.

2. (b) “Closed-loop gift card” means a card, code, or device that is:

   1. (1) Issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment; and
   2. (2) Redeemable on presentation by a consumer at a single merchant or a group of affiliated merchants.
3. (c) “Division” has the meaning stated in § 13-101 of this article.
4. (d) “Merchant” has the meaning stated in § 13-101 of this article.

5. (e) “Open-loop gift card” means a card, code, or device that is:

   1. (1) Issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment;
   2. (2) Payment card network branded; and

   3. (3)

      1. (i) Redeemable on presentation at multiple unaffiliated merchants for goods or services within the payment card network; or
      2. (ii) Usable at an automated teller machine.

6. (f) “Third-party gift card reseller” means a merchant who, without authorization from or affiliation with the business entity issuing an open- or a closed-loop gift card, is engaged in the business of:

   1. (1) Buying open- or closed-loop gift cards on behalf of consumers; or
   2. (2) Reselling open- or closed-loop gift cards to consumers.

Added by Acts 2024, c. 463, § 1, eff. June 1, 2025. Amended by Acts 2024, c. 463, § 2, eff. Oct. 1, 2025.